DZS (NASDAQ:DZSI) Rating Reiterated by Needham & Company LLC

DZS (NASDAQ:DZSI)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a research report issued on Wednesday, Benzinga reports. They presently have a $9.00 target price on the communications equipment provider’s stock.

DZS Stock Performance

DZSI stock opened at $1.07 on Wednesday. DZS has a 52-week low of $1.06 and a 52-week high of $7.43. The stock’s fifty day simple moving average is $1.37 and its 200-day simple moving average is $1.52.

Institutional Trading of DZS

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its position in shares of DZS by 2.5% in the first quarter. Bank of New York Mellon Corp now owns 65,548 shares of the communications equipment provider’s stock worth $910,000 after acquiring an additional 1,624 shares during the last quarter. MetLife Investment Management LLC increased its holdings in shares of DZS by 55.4% during the 1st quarter. MetLife Investment Management LLC now owns 9,474 shares of the communications equipment provider’s stock worth $131,000 after buying an additional 3,378 shares during the last quarter. Rhumbline Advisers raised its position in shares of DZS by 13.4% in the 1st quarter. Rhumbline Advisers now owns 18,535 shares of the communications equipment provider’s stock worth $257,000 after buying an additional 2,196 shares during the period. Dimensional Fund Advisors LP boosted its holdings in DZS by 19.9% in the first quarter. Dimensional Fund Advisors LP now owns 305,896 shares of the communications equipment provider’s stock valued at $4,242,000 after acquiring an additional 50,873 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in DZS by 1.3% during the first quarter. Vanguard Group Inc. now owns 792,961 shares of the communications equipment provider’s stock valued at $10,998,000 after acquiring an additional 9,830 shares during the period. Hedge funds and other institutional investors own 40.77% of the company’s stock.

About DZS

DZS Inc provides access and optical networking infrastructure and cloud software solutions in the Americas, Europe, the Middle East, Africa, and Asia. The company offers access edge solutions through DZS Velocity, including voice, high-definition and ultra-high-definition video, highspeed internet access, and business class services; switching and routing products; and XCelerate for increasing the velocity with which service providers can leap to multi-gigabit services.